Bill,Having watched so many people light their nest eggs on fire during the go-go bubble, I tend to view rapid gains in stock prices with some apprehension. They can be self-fulfilling prophecies. And because there are so many people who have so much riding on the market appreciating, it seems that very few folks actually look under the hood and question whether this is supportable.I certainly understand your apprehension.However, I'd also keep the following in mind, regarding bubble and post-bubble environments....Courtesy of Ibbotson Associates: 1929-32 -- the only period in our nation's history in which stocks declined for four consecutive years:1929 -8.4%1930 -24.9%1931 -43.3%1932 -8.2%1933 +53.9%Note: 1935 (+47.7%) and 1936 (+33.9%) were also very good years.Does history repeat itself? You tell me.
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